AMCHAM calls for consistency in tax policy

Thursday, 16 March 2017 00:00 - - {{hitsCtrl.values.hits}}

Members of the American Chamber of Commerce (AmCham) Sri Lanka have highlighted the urgent need for consistency in the tax policies of the Government, in the wake of the proposed Inland Revenue Bill due to take effect on 1 April.

Inconsistent and ad hoc policy changes are proving to be extremely detrimental for US companies operating in Sri Lanka as well as companies looking at Sri Lanka as a prospective investment destination.

The Chamber has called for greater private sector consultation prior to the implementation of such policies, reiterating that unpredictable business environments affect companies’ ability to make long-term investment decisions. This in turn will affect the country’s economy which continues to be in urgent need of high and better quality FDI.